secwatch.observer — SEC 8-K summary
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Issuer:     Hypha Labs, Inc. (FUNI)
CIK:        0001502966
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001493152-24-050186
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 5.07, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO acquires Series C Preferred shares with super-voting rights; approved 3.5x increase in authorized shares
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- On Dec 10, 2024, CEO A. Stone Douglass purchased 1,000 shares of Series C Preferred at $0.10/share, each carrying 200,000 votes.
- Series C shares are not convertible, pay no dividends, are non-redeemable, and have a $0.10/share liquidation preference.
- Purpose: to allow CEO to vote a majority to amend Articles to increase authorized common from 250M to 880M and preferred from 10M to 70M.
- Amendment approved by written consent of CEO as sole Series C holder; effective upon filing with Nevada Secretary of State.
- Sale was exempt from registration under Section 4(a)(2) of the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1502966/000149315224050186/0001493152-24-050186-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1502966/000149315224050186/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-050186

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